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the economy on both sides of the debate, and felt that it wanted to try my hand at clarifying it. i felt like i needed to make my contribution as best i could, because i done that at bain capital and felt like i need to try something different and it and i had to try to do something that was important. >> host: you mentioned of bain capital. there's a lot of interesting ideas and thoughts in this book. maybe you could tell me where these ideas come from. i these ideas that are developed over a long time from your career in finance? who are your influences in how you think about the economy and what's in the book? >> guest: they probably, it evolves from debates i had with young kids that came out of top schools, came to work for first been consulted and bain capital who wanted to argue economics and politics, and i can't think when you get to be 40 or 45, and i think it evolves from that. but i also benefited greatly from a friendship i had with bruce who is a professor at columbia who i was able to make the arguments to any would frankly say you're right on this but you're stepping on a land
totally stimulated the economy when you gave that panhandler at a dollar. even obama joked after his annual thanksgiving pardon that he saved or created four turkeys. my friends here know that i have a contrarian streak. i don't do groupthink. the guy who visited gulf after the bp spill and rode the environmental damage was being overstated, i was right. i had data. arguing that the stimulus was a new new deal was not just considered contrarian but delusional. like arguing the bp spill didn't happen. we can discuss why. a combination of relentless republican distortion, incompetent white house communication, brain dead media coverage, the unfortunate timing of the jobs bill that passed when the u.s. was hemorrhaging a hundred thousand jobs a month. the financial if quake had hit with the economic tsunami hadn't hit the tour. fortunately in 2010 i was 1,000 miles away and pretty oblivious to the prevailing stimulus narrative but i did become aware because i write about the environment that the stimulus included $90 billion for clean energy leveraging another $100 billion in private ca
their own economies and national capacity and military. vietnam and malaysia have internal wars of rebellion and nation-building. the philippines had a rebellion in the 1950s. japan was just coming on line as a significant power in the 1970s and it was korea that developed into a significant power. all these countries have developed already and because they have developed they now have the ability to project power halt word into the. territorial soil they claim. they didn't have this capacity. we see conflict about island and geographical features below water and high tides that we never saw before. people say has everyone gone crazy? no. everyone has developed in east asia and they have military's and developed navies and air forces and conflicting conflict over geographical space. of battles over geographical space and not about ideas. there are no ideas involved. this is all about territory. this is about status, about national status. people fought in europe that nationalism was out of fashion. we are in a post national age. that is not what i see in east asia. i see nationalism as very
not figure out how to do more on the economy but would risk the election to do something permanent to expand state and realize more of liberalism was kohl's. to that extent he is doing with the marxist call heightening the contradiction. in a certain way bidding for the crisis to come and excel rate. i thain because he will find a way to compromise and his second term. but the game he is playing in its ideological them that. he would not reject the chance to have a fiscal crisis in which you have stark alternatives. taxes must go up with the future promises made zero or we must fundamentally trim the welfare state. that is the opportunity to sweeten the economy to move from 19 or 25% of gdp every year that would have a transforming effect on the american character. >> what happens then if he is defeated? >> if is followed by conservatives. it is not impossible that romney could win to bring in the republican senate to maintain republican control of the house and confidently and expeditiously set out to replace and repeal will obamacare to undo other things done by the obama administration. i
a more on the economy if he was going to get reelected. he was willing to risk re-election for the sake of doing something perm known expand to the state, to realize more of the liberalism's goals. and so he is to that extend he is what the marxist call heightening the contradiction. he is in a certain way beg for the crisis. that's because he will be a way to daily comprise in the second term, if there is one, but i think the game he's playing is more ideological than that. and i think he would not reject the chance to put conservatively to have a real fiscal crisis in which in order fund the present promises and some of the future promises made in the welfare state or we must fundamentally trim the welfare state. and, i mean, that would be an opportunity as i say in the book to sweetennize the american economy. and so to scare move from a federal government that spends somewhere between 19 and 25% of gdp every year to one that spends 35% of gdp. that would have it seems to be a transforming effect not which i would welcome on american politics and on the american character. [inaudible
think of the aftershocks scenario to the u.s. economy and how will the affect the too big to fail banks and if i read this right, the rest of us. >> the after shock. >> i can speculate on what it is, the lingering depression, the slowdown in asia, and the fact that the financial system is still engaged in the incredibly risky behavior. are we talking about statements here? we will go with my theory. >> everyone is being affected by these right now and you see jpmorgan chase as a loss that was bad on your up, right? but in a way the institutions are so big that they are shielded because even with that massive trading law you see jpmorgan returning profits, so they are very respective but we have created the system where the biggar just gigantic. estimate and they know that they will be built up by the taxpayer and that creates what they call moral hazard. describe -- this is a great question because we get a bill but to much inside baseball journalism in the world all three of us. describe the problems inherent in the optional arm product and its aggressive push by wamu. >> that is a gre
with several deserts' and the subtitle is boom and bust, the new old west. i am looking at the way the economy affect our lives, where the economy gets into our very bodies. it is a book that i wrote because my body arrived in the desert under very particular circumstances in the winter of 1997 when i was broke, broken and on drugs. i was in mexico city where i had been lucky enough to go under a book contract from new york. i got an advance from a new york publishers to write a book, dream come true. in mexico city by november of 1997 i crossed the deadline and didn't have a word written and i was broke and i called the only friend i could count on at that point because my life style led me to destroy a lot of my personal relationships. i called the performance artist from coast to rico who lived in the united states for many years and a solidarity network and politics in the 1980s and i said -- of set of circumstances led her to cruise from topics of central america. everybody has a story in the desert of how they got there. ness service, 100 miles, the town of 29 homes, i saw myself driven
Search Results 0 to 6 of about 7

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